Being proactive vs. reactive with tax planning will have a tremendous impact on profitability and long-term wealth creation. Keep in mind, I am not a CPA and I am not giving tax advice. Rather, I’m passing on information that I learned as a practice owner and now implement in my financial planning practice. While not an exhaustive list, here are a few items to contemplate in 2025 as you watch the dollars in your practice.
A Tribute to Dr. Bill Holmberg
The Wilk et al. antitrust lawsuit vs. the American Medical Association has played a major role in stopping the AMA's efforts to destroy our profession. Much has been written about our attorney, George McAndrews; every positive comment was well deserved. Much has also been written about the plaintiffs. As one of the plaintiffs, I am sure that I speak for all of the plaintiffs when I say we appreciate the kind things that have been stated about our efforts in this legal battle.
Many people have played important roles in this case and deserve credit. To all that have helped, thank you! There is, however, one person that deserves special credit for the success of this lawsuit. You don't hear much about his efforts, but behind the scene, from the beginning, he has worked tirelessly raising funds to support this action. For 15 years, Dr. Bill Holmberg has spent countless, thankless hours organizing, directing, and raising funds to support this legal battle.
This tribute is short, because over the years Dr. Holmberg has repeatedly told me to keep speeches and articles short. Bill, in your honor, this tribute is short and to the point. Thank you, Bill! Without your efforts, the lawsuit would have died for lack of funds.
Michael D. Pedigo, D.C.
San Leandro, California